Electricity Tariff Hike Looms as Federal Government Plans to End Subsidy

By John Joseph

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Nigerians may soon face a significant increase in their electricity bills as the federal government plans to withdraw its subsidy on electricity. This decision is in line with the advice of the International Monetary Fund (IMF), which has urged the President Bola Tinubu-led administration to completely phase out the electricity subsidy ¹.The IMF’s recommendation is based on the premise that the subsidy is unsustainable and that the government can no longer afford to bear the cost. However, this move is likely to exacerbate the hardship faced by many Nigerians, who are already struggling to make ends meet.The planned withdrawal of the subsidy is expected to lead to a significant hike in electricity tariffs, which will undoubtedly have a ripple effect on the overall cost of living in Nigeria. This development has sparked concerns among Nigerians, who are worried about the impact of the increased electricity costs on their businesses and households.

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